Andrew Yang thinks the next wave of startup opportunity lies in giving money back to customers instead of extracting it. He was inspired by Mark Cuban's Cost Plus Drugs, which sells pharmaceuticals at cost. Yang has launched Nobile Mobile, a mobile virtual network operator that provides cell service at a fraction of traditional carriers' costs and gives customers money back if they use less data.
Yang sees a business opportunity in bringing down the cost of living as AI threatens to compress wages and displace workers. He believes meeting people's needs "less expensively" is "a very rich vein of opportunity." Noble Mobile has grown to thousands of customers and millions in revenue since its launch last September.
Yang argues that where policy fails, market incentives can step in to redistribute wealth. He encouraged founders and investors to take on problems they're passionate about and find a way to build a valuable enterprise on top of it.
